answersLogoWhite

0

What else can I help you with?

Continue Learning about Finance

Which family of Florence organized a banking business?

Medici is the family of Florence


What city dominated banking operations in the early Renaissance?

Florence.


Why by the end of the fourteenth century did Florence become an important banking city?

Florence became an important banking city at this time in a large part due to the strength of its gold currency. It was called a florin and was the first European gold coin that was created in large quantities.


Who was the powerful Italian banking family that ruled Florence during the Renaissance?

The powerful Italian banking family that ruled Florence during the Renaissance was the Medici family. They were prominent patrons of the arts and played a crucial role in the cultural and political life of Florence, supporting artists like Michelangelo and Botticelli. The Medici's influence extended beyond banking; they produced several popes and held significant political power, shaping the course of Italian history during the Renaissance.


What city derived its wealth from the wool trade and then expanded into banking?

Florence, Italy, derived its wealth from the wool trade during the Middle Ages, becoming a major center for textile production. This prosperity laid the foundation for its expansion into banking, leading to the emergence of powerful banking families, such as the Medici, who played a crucial role in the city's economic and cultural development during the Renaissance. Florence's banking innovations and financial institutions contributed significantly to its status as a leading economic power in Europe.